Y9 Bus/Econ - Unit 5 - Franchising
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7 questions
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- Q1What is a royalty?a percentage of the franchise fee paid by the franchisee to the franchisora fee paid for the right to use a license to manufacture products--a percentage of the revenue generated by the sale of each unit that is paid to the owner of a license, or to a franchise developer60s
- Q2Which business is not an example of a franchise?McDonald'sEbay7-ElevenBurger King30s
- Q3Which of these is a disadvantage of operating a franchise?higher start up costslimited liabilitylower marketing and promotional costsmore support45s
- Q4When a company enters into a legal arrangement to allow its product, services, or business-format to be used by others for a fee it is calledfranchiseeunrealisticfranchisingfranchisor45s
- Q5A company or individual who pays for the legal right to use the product, service, or format of another is called afranchiseefranchisor--franchising45s
- Q6Which of the following is among the requirements to be a successful franchisee?All of the other answersBe an organized personWilling to work long hoursWilling to face personal sacrifice45s
- Q7When deciding which franchise to purchase, which of the following aspects should be considered?Whether you enjoy that line of workProfitability of the businessPotential business growthall of the other answers45s